Top secret – eat after reading
by David Moss
Updated December 2010
Swiss official warns approval of new US tax
treaty unlikely absent UBS deal
Switzerlands Parliament is not expected to approve a tax treaty
with the US, which incorporates OECD standards of tax information exchange,
unless the US litigation against the Swiss bank, UBS, is resolved.
The Swiss Government hopes that an extra-judicial settlement will be found.
On 8 July 2009, the Justice Ministry announced that it would prevent UBS
from complying with a court ruling to provide the US authorities with
customer bank account details. To guarantee that Swiss rules are not breached
by UBS, the Government might even seize the relevant information from
This article [not available] provides further details of the legal action
against UBS, and its implications for the US/Swiss tax information exchange
agreement that was concluded on 18 June 2009. The later article [not available]
reports that on 13 July 2009, the IRS litigation against UBS concerning
the disclosure of the banks US customer accounts was postponed until
3 August 2009, because the US and Swiss Governments are currently negotiating
to resolve the matter.
Swiss media have stated that both parties are considering an agreement
to suspend the litigation until 25 September 2009, and allow US customers
of UBS a partial amnesty to encourage them to voluntarily settle with
the IRS. A Swiss newspaper has reported that the eventual deal between
the US and Swiss authorities will include new administration cooperation
procedures with a wider definition of tax fraud, but it has not disclosed
the source of any of its information.
A Swiss analyst has suggested that UBS might offer substantial compensation
for penalties and taxes.
When the US asked the UK to provide them with all our travel details,
the UK agreed, and thus eBorders. Ditto the EU Franco Frattini
started out talking tough, then rolled over and asked for his tummy to
Some governments are more ideal than others*.
8 December 2010 WikiLeaks:
Britain feared Colonel Gaddafi could 'cut us off at the knees' unless
Lockerbie bomber was freed
Britain feared that Libyan leader Colonel Muammar Gaddafi
could “cut us off at the knees, just like the Swiss”, unless the Lockerbie
bomber was released, leaked WikiLeaks cables show.
* First published on the Ideal Government website
David Moss has spent six
years campaigning against the Home Office's ID card scheme.
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